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    GBP/USD: technical analysis

    GBP/USD: technical analysis

    There’s a “Triple Bottom” pattern, which has been confirmed by the last upward price movement. We’ve got a consolidation in progress under the resistance  level at 1.4346. It's likely that the upward movement will go higher to a resistance area between the levels 1.4408 - 1.4473. At the same time, it’s there’s a possibility that bears are going to come back to the market afterwards.

    GBP/USD: technical analysis

    The pair has found a resistance on the 89 Moving Average and started a downward correction from this line. Also, here’s a “Pennant” in progress. It’s likely that the market is going to rise towards a resistance  area between the levels 1.4440 - 1.4473 in the short term. If the price starts falling down from these levels, then it's likely that the pair will test a support area between the levels 1.4378 - 1.4346.

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